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What to Know Before Buying a Home in Ephrata, PA

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Exploring Ephrata, PA From North to South

Strongly considering a home purchase in Ephrata? Awesome! You've chosen an energetic city with a dynamic selection of parks, businesses, and educational opportunities, and we're here to help the home purchase process go a little smoother. We serve 3.8 million customers nationwide and are familiar with the ins-and-outs of the Ephrata housing market.

Given all of Pennsylvania's growth, Ephrata homes aren't always easy to find at a comfortable price. Continued cultural expansion and economic growth have helped to entice young families, new businesses, and retirees to the Ephrata area, but so much change also means more traffic, more competition, and a need for more schools. That said, Ephrata and its nearby areas still offer a wide range of home styles and prices. You can find duplexes, single-family homes, townhomes, condos, and (ideally) your dream house! When buying a house in Ephrata, consider the home's location in relation to your everyday activities. If you can, drive the route you'd take from the house to your school, office, and favorite hangout spot. Your house's location will affect everything, from your morning routine to how you spend your evenings. Traveling around Ephrata will also give you an idea of why homes in west Ephrata are priced differently than homes in east Ephrata, what the communities are like, and where to find Ephrata's coolest attractions.

You're ready to buy a house in Ephrata, but is your bank account? Reach out to a Mr. Cooper Mortgage Professional if you don't know how to go about answering that question. We believe everyone can find their dream home and try our best to make the journey easier and more rewarding. It doesn't matter whether you want to buy a home in Pennsylvania or somewhere else entirely. We help experienced homeowners and first-time homeowners alike. Read through the following steps to help you see if you're in a good financial position to buy a house in Ephrata.

First, calculate how much house you can afford. This will help you set a price range while house shopping in Ephrata. Then, map out your potential monthly payments (including home repairs, insurance, homeowners association fees, property taxes, etc.). It's okay if these numbers are educated guesses. Everyone's situation will differ, but a quick online search for average expenses in Ephrata will usually point you in the right direction. Keep in mind that your monthly mortgage payment could make up the bulk of your monthly home expenses.

Next, consider how much you can contribute to a down payment. Placing a minimum of 20% down can improve your chances of getting a favorable rate and will allow you to avoid private mortgage insurance (PMI). Even so, the required down payment will depend on the type of loan you get. At this stage, getting prequalified for a loan can be extremely helpful. Getting prequalified will give you an idea of how much you might qualify to borrow. Also, consider your credit profile. Credit history is an important part of your mortgage application. The better your credit is, the more mortgage options you may be presented with— and more options are always good!

It's Go Time! Buy a House in Ephrata, PA

As common as moving is, you'd think we'd all have figured out a less stressful way to do it. And yet, it remains a top stressor in life! But moving feels more rewarding when you get to live in a place like Ephrata. Contact Mr. Cooper as you get ready to buy a house in Ephrata. We're here for you every step of the way and Mr. Cooper® Real Estate Rewards can even put you in touch with a vetted real estate agent who can potentially help you save thousands of dollars.*

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